REMINDER -- Today Senior Management of Capital Product Partners, d'Amico International Shipping, Teekay Corporation and Tsakos Energy Navigation to Discuss Developments of the Tanker Shipping Sector (Crude & Products)
Capital Product Partners L.P. (NASDAQ: CPLP), Mr.Ioannis Lazaridis , CEO & CFO,d'Amico International Shipping S.A. (MILAN: DIS), Mr.Marco Fiori , CEOTeekay Corporation (NYSE: TK), Mr.Peter Evensen , President & CEO and/or Mr.Bruce Chan , President, Teekay Tanker ServicesTsakos Energy Navigation (NYSE: TNP), Mr.Nikolas Tsakos , President & CEO and/or Mr.George Saroglou , COO
will participate in a
The discussion will be moderated by Mr.
ACCESS TO THE DISCUSSION
The panel discussion can be accessed only through a live audio webcast at www.CapitalLinkWebinars.com or at Capital Link's Shipping Website www.CapitalLinkShipping.com.
Participants to the live webcast should register on the website approximately ten minutes prior to the start of the webcast. Please go to the above indicate websites to register and access the event.
After the event, the panel discussion will remain archived and accessible through the same websites indicated above.
PANEL STRUCTURE - TOPICS TO BE COVERED
The focus of the discussion (and the Q&A) will be only on sector trends and fundamentals, and not on company specifics or company recommendations. The discussion will cover four topics: demand, supply, freight rates and asset values, valuations, focusing on current trends and the sector's outlook. The discussion will include both the crude (dirty) oil and the product (clean) markets.
QUESTIONS FROM PARTICIPANTS
Participants can submit questions to the panelists prior to or during the event through the special feature on the event page, or they can email them to us at questions@CapitalLinkWebinars.com.
TRANSCRIPT
A transcript of the panel discussion will be publicly available at no cost within approximately 48 hours after the event and those interested can request it when they register for the event or afterwards through the event page at websites indicated.
ABOUT TANKER SHIPPING:
A principal function of the tanker sector is to transport crude oil from oil production and export facilities to oil terminals, storage facilities, pipeline systems and oil refineries internationally. In addition, tankers are also involved in the carriage of refined petroleum products, such as gasoline, diesel, jet fuel and naphtha, from refineries to storage and distribution systems, industrial plants and other consumers. Tankers generally are a more cost-effective alternative to pipelines and their advantages increase over distance. Pipelines are also considered to be more vulnerable to political instability, sabotage, economic blockade and the risk of environmental disaster.
There are two principal types of providers of international seaborne transportation services for crude oil and refined petroleum products: independent shipowners and end users, such as oil, energy, petrochemical and trading companies (both private and state-owned). Tonnage controlled by end users is primarily chartered from independent shipowners under short-term spot market contracts and long-term time charters, with the balance being directly owned. The prices for transporting crude oil and refined petroleum products, which are referred to as tanker charter rates, are set in highly competitive markets in which both independent and end-user tonnage participate.
In recent years, the tanker sector has undergone a process of consolidation that has resulted in greater co-operation between owners and charterers as both seek greater economic efficiencies and continued improvements in quality, safety and environmental protection standards. As a result, oil companies acting as charterers, terminal operators, shippers and receivers are becoming increasingly selective and rigorous in their inspection and vetting of vessels and their acceptance of vessels and operators. Safety and environmental protection has been a major focus of the tanker industry over the past years. Regulations such as OPA 90 and IMO have caused tanker owners to take extra care in the maintenance of their vessels. According to IMO regulation, only double hull tankers trade as of 2010 with single hull tankers phasing out.
Vessels in the tanker fleet can be divided into categories based on their size in deadweight tons, or dwt, which is a vessel's capacity for cargo, fuel, oil, stores and crew measured in metric tons (1,000 kilograms). The following are the main categories of tankers based on dwt: (1) Very Large Crude Carriers (VLCCs) -- tankers with capacity of 200,000 dwt and over; (2) Suezmax tankers -- tankers with capacity ranging from 120,000 to 200,000 dwt; (3) Aframax tankers -- tankers with capacity ranging from 80,000 to 120,000 dwt; (4) Panamax tankers -- tankers with capacity ranging from 60,000 to 80,000 dwt; (5)
Tankers that transport refined petroleum products are referred to as products tankers. Products tankers generally range in size from 10,000 to 80,000 dwt, although there are some larger products tankers designed for niche long-haul trades, such as from the
Ice Class tankers are vessels that have been constructed (in compliance with Finnish-Swedish Ice Class Rules) with strengthened hulls, a sufficient level of propulsive power for transit through ice-covered routes and specialized machinery and equipment for cold climates.
About
CPLP-G
About
About
About
About Capital Link
Capital Link is a
Capital Link's shipping website provides free information to investors on all US and European listed shipping stocks, as well as trading statistics, industry reports and management interviews (www.capitallinkshipping.com)
Contact forCapital Link Shipping :Nicolas Bornozis PresidentCapital Link, Inc. 230 Park Avenue Suite 1536New York, N.Y. 10169 Tel. (212) 661-7566 Fax (212) 661-7526 E-mail: shipping@capitallink.com Event Website: http://www.capitallinkwebinars.com Shipping Portal: http://www.capitallinkshipping.com Corporate Website: http://www.capitallink.com
Source:
News Provided by Acquire Media